Tencent Cloud has expanded its partnership with Ryde, a Singapore-based mobility and quick commerce platform. The new phase introduces a Weixin Mini Program in Singapore, building on the previous integration of Tencent Cloud Real-Time Communication (TRTC) technology that enhanced in-app communications within Ryde. Weixin, known internationally as WeChat, is China’s most widely used messaging and social platform. The Weixin/WeChat Mini Program allows Chinese tourists in Singapore to book Ryde rides directly within the platform, without downloading a separate app. The interface supports Simplified Chinese, displays fares in RMB, and accepts payments via Weixin/WeChat Pay. Kenneth Siow, Regional Director for Southeast…
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SEON has upgraded its AML platform to give compliance teams more flexibility as they navigate increasingly fragmented regulations. The enhancements are designed to help businesses manage multijurisdictional requirements with more control over screening, rules and investigations. The platform now supports configurable AML Search Profiles that let teams build jurisdiction-specific screening setups without writing code. Users can select data sources, fine-tune fuzzy matching sensitivity by list type and apply different standards across regions or customer segments. New profiles can be created in minutes when entering markets with different expectations. SEON has also introduced Rule Categories, allowing users to label and filter…
Crypto exchange Kraken has secured US$800 million in fresh funding to accelerate its plan to bring traditional financial products on-chain. The round includes a US$200 million strategic investment from Citadel Securities at a US$20 billion valuation. “This investment represents long-term conviction in Kraken’s mission to build trusted, regulated infrastructure for the open financial system. Our focus has always been straightforward: to create a platform where anyone can trade any asset, anytime, anywhere. The caliber of our new investors reflects both the scale of the opportunity ahead and the depth of alignment around how this infrastructure should be built.” said Arjun…
The Monetary Authority of Singapore has cleared TransferMate to expand its payment services in the market, adding new account and money transfer capabilities. The approval allows TransferMate to issue accounts, process domestic transfers and provide e-money services in Singapore under its Major Payment Institution licence. With the variation, TransferMate can support local fund storage through dedicated Global Accounts, giving businesses in Asia the option to store funds locally, move money into and out of the region, convert currencies and run payroll or supplier payments from one platform. The expanded capabilities strengthen the functionality of Global Accounts for companies with regional…
Hong Kong-based fintech Statrys has launched its business account service in Singapore to help SMEs, entrepreneurs, and startups manage international payments more efficiently. The move strengthens Statrys’ presence in Asia Pacific. Its platform supports company setup, maintenance, bookkeeping, accounting, and payment management, combining technology with personalised service to simplify cross-border finance. SMEs, which contribute about 45% to Singapore’s nominal GDP, often face lengthy onboarding processes and high transaction costs in global trade. Statrys said its entry aims to make payments smoother, offer competitive foreign exchange (FX) rates, and help businesses capitalise on new global opportunities. “In today’s global economy, entrepreneurs…
First Abu Dhabi Bank is moving to offer real-time cross-border and mobile wallet payouts to more than 130 countries through a new partnership with Thunes. The integration will give FAB customers faster and more transparent international transfers once the service is fully launched. The agreement expands FAB’s global payment reach by connecting directly to Thunes’ Direct Global Network. Both companies say the partnership supports national initiatives aimed at modernising the UAE’s financial infrastructure and strengthening digital innovation, interoperability and financial inclusion. The collaboration reflects their shared aim to advance next-generation cross-border payment channels. Thunes’ Direct Global Network will enable FAB…
Digital banks now account for a growing slice of scam and fraud complaints in Singapore, even as traditional banks continue to face similar risks. Fresh figures provided to The Straits Times by the Financial Industry Disputes Resolution Centre (FIDReC) show that online-only lenders are handling more cases as customers fall victim to Compromised Credentials and Impersonation Scams. FIDReC received 94 scam and fraud claims involving the five licensed digital banks from January to August 2025, already more than double the 42 cases recorded in all of 2024. Losses for the eight-month period reached S$2.5 million. The affected institutions are Trust…
BENEFIT and Singapore-based technology company MonetaGo, in collaboration with Bahrain Fintech Bay (BFB), have begun implementing Bahrain’s National Digital Public Infrastructure (DPI) Initiative. The project aims to create a digital ledger for all financed trade transactions and invoice submissions, providing an alternative data credit score to support trade finance and reduce risk in SME lending. The collaboration brings together Bahrain’s fintech ecosystem and Singapore’s digital trust frameworks, with the goal of developing interoperable, cross-border digital public infrastructure connecting Asia and the Middle East. The initiative is intended to strengthen financial and economic linkages and support secure, transparent trade finance. Abdulwahed…
Aspire has rolled out AspireOS, an AI-powered platform designed to help banks upgrade digital business banking without replacing their core systems. The launch builds on Aspire’s technology, which serves more than 50,000 businesses globally. Aspire estimates the annual global market for modern business banking software at about US$9 billion, driven by more than 6,000 commercial banks seeking to strengthen their digital business banking offerings. Many SMEs still face gaps in onboarding, payments, reconciliation and integrated financial tools, leading them to explore digital-first challengers. AspireOS is built around two modules. The core banking module provides tools for onboarding, compliance, payment flows,…
Grab is working with StraitsX on a Web3 settlement model that may bring stablecoin payments to consumers and merchants across Asia. The MOU covers plans for a Web3-connected wallet in the Grab app and a stablecoin-based clearing and settlement layer for cross-border transactions. StraitsX will support technical development of wallet functions such as compliant custody and programmable payments. Both companies will review regulatory and technical requirements for enabling Web3-compatible wallets for merchants, including mitigating risks related to money-laundering and terrorism-financing. The aim is to allow GrabPay merchants to accept stablecoin payments from local and overseas customers through widely used Web3…
SGX Derivatives will launch Bitcoin and Ethereum perpetual futures on 24 November 2025, its first offering of a product widely used in global crypto markets. The contracts use a no-expiry structure common in crypto trading and will be cleared and margined under SGX’s regulated framework. Access will be limited to institutional, accredited and expert investors. Perpetual futures are the most heavily traded payoff in crypto derivatives, generating more than US$187 billion in average daily volumes. Much of this trading is still priced and settled on offshore platforms outside Asia. SGX aims to bring part of this activity on-exchange, giving institutions…
Bettr’s credit tech reached more than 30 million users by October 2025 as digital platforms adopted its lending solutions, tripling its reach from a year earlier. The increase reflects growing demand from MSMEs in emerging markets and the push by platforms to embed credit services that strengthen merchant engagement and support revenue. The launch of Bettr’s expanded credit tech suite comes as MSMEs face an estimated US$8 trillion financing gap in emerging markets and developing economies, according to the International Finance Corporation. As platforms scale, many are seeking tools to deliver more tailored lending within their ecosystems. Bettr provides SaaS,…
Banking Circle has joined forces with JD Fintech to support faster and more reliable cross-border payment services for global businesses. The partnership gives JD Fintech access to Banking Circle’s infrastructure for real-time payments, foreign exchange and marketplace collections. JD Fintech said the integration will help reduce friction in international transactions and deliver scalable, compliant payment solutions for businesses and consumers. The collaboration enables multi-currency accounts for collections, payments, currency exchange and real-time funds management. Banking Circle’s virtual IBANs and local clearing networks will help businesses manage funds across markets while meeting regulatory requirements. Banking Circle said its single API and…
XTransfer and Siam Commercial Bank signed an MoU at the Singapore Fintech Festival 2025 to build more transparent, secure and cost effective FX services for businesses trading internationally. The agreement focuses on developing FX solutions in Thailand that provide clearer pricing and more competitive conversion rates for enterprises engaged in cross border trade. Both companies will use API and digital platform connectivity to enable automated real time FX conversion and faster transaction processing, with the aim of improving cash flow management and reducing operational costs. The partnership also includes plans to explore further cooperation beyond FX, including domestic and cross…
The Singapore Fintech Association (SFA) has released 10 Years, 10 Voices, a publication marking the tenth anniversary of the Singapore Fintech Festival by profiling ten women whose work has influenced the development of the sector. The honourees were selected through public nominations and reviewed by a panel from the SFA and the Monetary Authority of Singapore. The report combines industry analysis with profiles of leaders across payments, lending, wealth management, digital assets and financial infrastructure. Here are the ten leaders celebrated in the report: 1. Adeline Kim, Country Manager, Singapore & Brunei, Visa Adeline Kim, Country Manager for Singapore and…
Taking place from November 12 to 14, the 2025 Singapore Fintech Festival (SFF) drew a massive crowd of 65,000 participants in one of the world’s biggest fintech gatherings. This year’s annual event, which marked its tenth edition, explored the theme “Technology Blueprint for the Next Decade of Finance”, delving into how the emerging technology stack, including artificial intelligence (AI), tokenization, and quantum technologies, are reshaping global finance. Discussions centered on the industry’s major challenges and opportunities, with some 800 distinguished speakers taking part in 400 sessions to highlight how advanced technologies are advancing sustainable growth and inclusion across emerging markets…
Amid the Belt and Road Initiative and expanding financial cooperation between China and Singapore, cross-border payments have become an important mechanism supporting regional trade and people-to-people exchanges. To strengthen financial connectivity, Development Bank of Singapore (DBS) has partnered with UnionPay International (UPI) to enable DBS UnionPay Platinum Debit Cardholders to access a more efficient cross-border payment experience. From now until 31 March 2026, cardholders can receive up to 8% cashback and a 3% waiver on transaction fees when spending in China, providing a total benefit of up to 11%. DBS said the programme supports the growing economic and social exchanges…
Bank of Singapore has named Claude Andre Harbonn as its new Head of Investment Advisory, a newly created role he will take up on 5 January 2026. Harbonn will be based in Singapore and will oversee the bank’s global investment advisory teams. His responsibilities include shaping the advisory strategy, supporting revenue growth, working with front office teams to deepen product engagement, and strengthening portfolio advisory services. He will report to the Heads of Private Banking in Singapore, Hong Kong and Dubai, which are the bank’s main hubs. Investment advisors across these locations will have a functional reporting line to him…
China Construction Bank Singapore partnered with NUS Enterprise for the first time to support 22 startups at the Singapore Fintech Festival 2025, with funding provided through the CCB SG Vision Foundation. The collaboration was facilitated by Temasek Trust’s TT Foundation Advisors, its philanthropy advisory arm, and Co-Axis, its digital impact marketplace. It also builds on CCB Singapore’s work with Gprnt, the Monetary Authority of Singapore’s sustainability reporting platform. CCB Singapore signed a Statement of Intent with Gprnt in April 2024 to support SME decarbonisation and transition financing. The startups were selected from NUS Enterprise’s ecosystem, including BLOCK71 and the NUS…
UBS has entered a strategic partnership with Ant International to explore blockchain-based tokenised deposits for Ant International’s payments settlement and liquidity management. The two parties signed a MoU at UBS’s office at 9 Penang Road in Singapore. Under the MoU, Ant International will use UBS Digital Cash, a blockchain-based payment platform piloted in 2024, to support its global treasury operations. UBS Digital Cash enables blockchain-based payments designed to improve efficiency, transparency and security. UBS will apply its expertise to enhance cross-border payment solutions for its clients. The partnership will also examine joint innovations in tokenised deposits. The connected solution will…